Penserra Capital Management LLC Has $1.08 Million Stake in Trane Technologies plc (NYSE:TT)

Penserra Capital Management LLC lowered its stake in Trane Technologies plc (NYSE:TT) by 56.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,771 shares of the company’s stock after selling 3,661 shares during the period. Penserra Capital Management LLC’s holdings in Trane Technologies were worth $1,075,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Albar Capital Ltd bought a new stake in shares of Trane Technologies during the second quarter worth $14,556,000. GDS Wealth Management raised its holdings in Trane Technologies by 4.3% during the 3rd quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after purchasing an additional 2,124 shares during the last quarter. King Wealth Management Group acquired a new position in Trane Technologies during the 3rd quarter valued at about $1,879,000. Gradient Investments LLC boosted its stake in shares of Trane Technologies by 7,988.0% in the 2nd quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock valued at $665,000 after purchasing an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Trane Technologies by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the period. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $419.14 on Wednesday. The company has a fifty day moving average price of $395.80 and a two-hundred day moving average price of $357.67. Trane Technologies plc has a one year low of $221.22 and a one year high of $422.00. The stock has a market cap of $94.31 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.64 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $2.79 EPS. As a group, equities analysts predict that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 target price for the company. Mizuho increased their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective on the stock. Barclays upped their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $397.64.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.